11th August 2011
Japan's leading stock market index continued to fall on Thursday (August 11th) as investors reacted to fresh concerns about the European debt crisis.
Having enjoyed a brief rebound the day before, the benchmark Nikkei 225 average dropped by 1.3 per cent to reach 8,922.32 before the midday break, Reuters reports.
Companies that experienced slumps included car makers Mazda and Nissan, with the market reflecting ongoing worries regarding the global economy and the strong yen.
However, the decline in Asian markets was limited by a rise in US stock futures.
Speaking to Bloomberg, Takeshi Fukushima of Meiji Yasuda Asset Management commented: "Japanese stocks are relatively solid, but the external environment won't settle down.
"The market's biggest concern right now is Europe."
Talk of a growing debt crisis in the eurozone has been reignited by rumours that French banks will be pulled into the mire.
Several financial instutitions suffered major slumps in trading on Wednesday following speculation that France's triple A sovereign rating is now under threat.
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